This article is really interesting about what's happening with NEOM in general and the massive amount of money that has been spent on foreign consultants and work that's never progressed including Silver Beach.
But to the employees, scrapping Silver Beach was part of a pattern of working furiously on ambitious, expensive plans that were quickly abandoned—such as one of Neom’s early initiatives, a $200 billion solar field that was canceled soon after being announced. “If I had to put a bottom line for all the work that I did in this era, it was presentations and PowerPoints that went into the garbage the next week,” says a former manager who worked on Silver Beach. “It was the least productive part of my whole life in terms of doing real things and the most productive in terms of the money I got.”
Source: https://www.bloomberg.com/features/2022-mbs-neom-saudi-arabia/?utm_content=business&cmpid=socialflow-twitter-business&utm_source=twitter&utm_medium=social&utm_campaign=socialflow-organic&leadSource=uverify%20wall